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Alibaba Group Holding Ltd has agreed to acquire $2 billion of its own shares from SoftBank, which is the e-commerce company’s largest shareholder. In a bid to reduce its debt, SoftBank is selling $7.9 billion of shares of the e-commerce company in a series of transactions announced Wednesday. The shares sale will cut SoftBank’s stake in the company to 28% from 32.2%….
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Rivian took a novel approach to selling vehicles and yesterday held a one-day event at the parking lot of its Normal factory where customers could come and buy its cars. Like Tesla, Rivian sells its vehicles online where users place an order with their preferred specifications that are then later shipped. This is unlike legacy…
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Apple (NYSE: AAPL) would release its earnings for its fiscal second quarter of 2023 on Thursday after the close of markets. It’s been a dull earnings season for FAANG peers so far and only Meta Platforms managed to please markets with its quarterly earnings. Analysts polled by Tikr expect Apple to post revenues of $92.8…
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Tesla (NYSE: TSLA) is under investigation for a fatal collision in February when a Model S car collided with a stationary firetruck. Separately, regulators are investigating its Model Y over a potential issue related to the steering wheel. In February, a TSLA Model S collided with a stationary firetruck. While it is not known whether…
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Intel (NYSE: INTC) is trading sharply lower in US premarket price action today after missing both topline and bottomline estimates for the fourth quarter of 2022. Here are the key takeaways from the company’s earnings. Intel reported revenues of $14.04 billion in the fourth quarter of 2022. The revenues fell 32% YoY and were below…
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With a YTD loss of over 71%, Peloton (NYSE: PTON) is among the worst-performing stocks this year. The stock had crashed last year as well after the splendid rally in 2020. With PTON stock now approaching its 52-week lows, Wall Street analysts remain quite divided on the stock. Peloton went public in 2019 and priced…
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The earnings season for FAANG companies started this week after Netflix reported its Q2 earnings. Next week, other FAANG names including Apple, Amazon, Meta Platforms, and Alphabet would release their earnings. The earnings season has been mixed so far. Banks reported mixed earnings and gave a divergent commentary on the health of the US economy….
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Apple stock is trading flat in early US price action today as broader markets look for direction after the sharp rebound yesterday. The stock has slumped this year after hitting its all-time high on the first trading day of 2022. Apple has announced that the new Mac would be available later this week. The model…
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US stock markets rose sharply on Friday and closed the week in the green. Nike, which is set to release its earnings on Monday after the close of markets gained almost 5%. The stock is still down 32% for the year and is underperforming the S&P 500. Nike’s earnings are coming at a time when…
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Dollar Tree (DLTR) stock rose a whopping 16% yesterday which was its biggest single-day rise in years. However, despite the rise, the stock is trading with a year-to-date loss even as some of the other retail companies are trading with strong gains for the year. What’s the forecast for the DLTR stock and is it…
